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Car Sales Report March 2019: The car sales report for the month of March 2019 has been released by various automotive manufacturers in the country. The sales report from the manufacturers showcase a similar report to February with a mixed bag of both growth and decline.
Maruti Suzuki continues to slump in the Indian market while other manufacturers slowly pick up the pace in terms of sales. Here is the list of the major car brands in the Indian market and their sales performance for the month of March 2019.
Maruti Suzuki continues its slump in sales for yet another consecutive month. India's largest passenger vehicle brand has recorded a decline in sales of 1.5 percent in the market. The company recorded 143,031 units of sales in March 2019, compared to 147,170 units during the same month last year.
However, on the positive side, Maruti Suzuki did manage to record the growth of 5.3 percent in the fiscal year 2018-19. The brand sold 1,729,826 units between April to March last year, compared to 1,643,467 units during the previous fiscal year (2017-18).
Mahindra had a positive month in March, recording a 4 percent sales growth in its passenger vehicles segment. The company recorded a 27,646 units in the previous month, compared to 26,555 units during March 2018.
In terms of the overall financial year sales, Mahindra recorded a marginal sales growth of 2 percent; again in the passenger vehicle segment alone. The company in FY 2018-19 sold 254,701 units. Mahindra, on the whole, recorded a 11 percent growth in the country, taking into account all the vehicle segments it is currently present in.
Rajan Wadhera, President, Automotive Sector, M&M Ltd. stated:
"We have closed FY-19 with robust double digit growth of 11% at an overall level, despite strong headwinds faced by the Indian automotive industry this year. This growth has been supported by our three new product launches, which have been well received in the market. The commercial vehicles segment and exports have also posted strong growth rates of 15% and 37% respectively."
Honda Cars India had the best month in March, recording a growth of 27 percent in domestic sales. The company sold 17,202 units in the previous month; this compared to 13,574 during the same month last year.
Even considering the entire financial year, Honda Cars India managed to record an 8 percent growth from 170,026 in FY 2017-18 to 183,787 units in FY 2018-19.
Rajesh Goel, Senior VP and Director, Sales & Marketing, Honda Cars India Ltd, stated:
"We have closed the financial year 2018-19 with a growth of 8%. Strong sales efforts from the dealers and company during the prevailing tough market scenario resulted in this growth rate, which is ahead of the industry. One of our growth drivers was the All New Amaze. The launch of our global bestsellers Civic and CR-V reinforced Honda's premium product line-up." He further added, "The iconic all-new Civic, which we launched last month has received an overwhelming response and will give the much needed boost to the executive sedan segment in India."
Hyundai Motor India also recorded a positive growth figures during the month of March. The company recorded an overall growth of 1.1 percent in March 2019, selling 61,150 units compared to 60,507 units during the same period last year.
However, in terms of domestic sales, Hyundai recorded a decline of 7.6 percent during March 2019 alone. The company dropped from 48,009 units in March 2018 to 44,350 units in the previous month.
They did however end FY 2018-19 on a good note with a growth of 2.5 percent, selling 707,348 units last year, compared to 690,184 units in FY 2017-18.
Vikas Jain, National Sales Head, Hyundai Motor India Ltd. stated:
"With a strong commitment for making Happy Life of our customers through Open Innovations, Best-in-segment products and Excellent Customer Service Experience, we closed the financial year 2018-19 on a positive note with a growth of 1.7% and highest- ever domestic volume of 5,45,153 units meeting and exceeding our customer aspirations."
Toyota has recorded a growth of 2 percent between March 2018 and March 2019. The Japanese brand in India sold 13,662 units last month, compared to 13,537 units in the same period of 2018.
In terms of financial year sales, Toyota Kirloskar India has recorded a growth of 7 percent from 140,645 units in FY 2017-18 to 150,525 units in FY 2018-19.
N. Raja, Deputy Managing Director, Toyota Kirloskar Motor stated:
"We are happy to have clocked a growth of 7% in domestic sales in FY 18-19 as compared to FY 17-18. Innova Crysta and Fortuner have been maintaining the growth trajectory and continue to be leaders in the segment. We are thankful to our loyal customers for their trust and confidence in Toyota products.
However, consumer spending has weakened in the pre-election phase and the business sentiments have dampened temporarily. We expect the business conditions to improve in the months ahead post elections and government formation."
Thoughts On The Car Sales Report For March 2019
The last month of the financial year, has been the best month for car sale in 2019. Most automotive manufacturers have recorded a marginal growth, showing a positive sign for the Indian car market. However, with the 2019 General Elections coming up, we can expect low interest in car sales until its completion.